GTBank hikes SMS alert charges amid economic hardship

Guaranty Trust Bank (GTBank) has announced an increase in its SMS transaction alert charges from ₦4 to ₦6 per message, effective Thursday, May 1, 2025.

In a message sent to customers, the bank attributed the fee hike to recent adjustments in telecom rates by network providers. It emphasized that SMS alerts remain an essential security feature, helping customers stay informed and in control of transactions on their accounts.

“Please be informed that effective Thursday, May 1 2025, the SMS transaction alert fee will increase from ₦4 to ₦6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” the message read in part.

GTBank, however, offered customers the option to opt out of SMS alerts by submitting a completed transaction alert form via email to [email protected]. It also noted that SMS alerts sent to international numbers will attract even higher charges.

Discovererngr.com reports that this announcement comes at a time when many Nigerians are feeling the pinch of a tough economy. Basic commodities have skyrocketed, inflation continues to bite, and earlier this month, data subscription costs surged by over 200%, making internet access increasingly unaffordable for the average citizen.

The timing of the bank’s decision has drawn criticism from some Nigerians, who argue that financial institutions should be more empathetic given the current economic realities. Others have called for more transparency in how banks and telecom providers arrive at such charges.

Despite the backlash, GTBank maintains that the SMS alert service remains vital for customer protection. For further enquiries, the bank directed customers to its contact centre, GTConnect.

As Nigerians adjust to yet another price hike, the question remains: how much more can the average citizen bear in an economy where cost of living continues to climb with little relief in sight?